Delivering global growth through electricity
We drive steady global growth by putting electrification at the centre of progress
Our goal is to deliver clean, secure and affordable energy that supports people, businesses and communities around the world. With operations across Europe, North America, South America and Asia, we are strengthening our local roots while delivering consistent growth.
EDP’s 2026-2028 strategy marks a new phase of sustained growth, focused on renewables, more resilient networks, and disciplined investment, balancing opportunity with resilience.
A clean and smarter energy system at the centre of our investment worldwide
Between 2026 and 2028, we plan to invest around €12 billion to reinforce electrification and strengthen energy resilience.
Investment allocation
70%
Renewables, Clients
& Energy Management
30%
Electricity
Networks
~90% of total investment in A-rated markets
Geographic focus
35%
United States
30%
Portugal
and Spain
10%
Brazil
5%
Others
20%
Rest of Europe
We will recycle capital through a €5 billion asset rotation program and streamline the portfolio with €1 billion of target disposals in the period to fund core growth markets
Electricity underpins industrial growth, digital transformation and economic progress. EDP is well-positioned to capture this new cycle of global demand.
- Global momentum in clean electricity
Sustained growth in power demand, namely in the US
-
Renewables are the fastest, most competitive and scalable technology
-
Increasing need for flexibility and smart grids
-
Supportive market and regulatory dynamics
- Key strengths across major markets
-
Leader in Renewables, with strong track record and pipeline
-
Integrated position in Iberia, combining FlexGen and Clients portfolios
-
Robust Networks business, with a step-up of investments, particularly in Portugal
EDP 2026-2028 Business Plan at a glance
billion Gross investment
billion Asset rotation
OPEX/Gross profit
billion Recurring EBITDA by 2028
billion recurring net income by 2028
FFO/Net debt ratio, maintaining a solid BBB rating
| 2025 | 2026 | 2028 | 2025 - 2028 | |
|---|---|---|---|---|
| EBITDA (€ Bn) | 4.9 | 4.9 - 5.0 | 5.2 | +6%
|
| Net Income (€ Bn) | 1.2 | 1.2 - 1.3 | 1.3 | +8%
|
| Net Debt (€ Bn) | ~16 | ~16 | ~15 | -€1Bn
|
| FFO/ND % | ~19% | ~20% | ~22% | +3 p.p
|
| DPS Floor (€ /share) | 0.20 | 0.20 | 0.21 | +5%
|
This approach supports consistent performance, strengthens the balance sheet and preserves flexibility for future investment.
Lasting value creation
Our strategy is designed to create value that endures for shareholders, customers and communities alike - by expanding renewable energy that powers homes, cities and industries, strengthening more resilient networks that enable electrification, and driving continuous efficiency through responsible action and innovation.
Focused growth
Visibility with improved returns and flexibility to accelerate
Business optimization
Focus on value and cash-flow generation from the existing portfolio
Distinctive and resilient portfolio
High-quality portfolio with a sound Balance Sheet
Delivering global growth through electricity
Our goal is simple yet ambitious: to unlock global growth through electricity and deliver a cleaner, more connected and reliable energy future.
